Question
The demand question a.Define what is a change in the quantity demanded of a good or service. Illustrate this change graphically. b.Enumerate the factors that
The demand question a.Define what is a change in the quantity demanded of a good or service. Illustrate this change graphically. b.Enumerate the factors that influence purchase plans and modify demand. Indicate, for each factor, if they increase or decrease it. c.Define what is a change in the demand for a good or service. Illustrate this change graphically.
The offer question a.Define what is a change in the quantity supplied of a good or service. Illustrate this change graphically. b.Enumerate the factors that influence purchase plans and modify the offer. Indicate, for each factor, if they increase or decrease it. c.Define what is a change in the Offer of a good or service. Illustrate this change graphically.
The market question a. What is the equilibrium price of a good or service? b.When does a shortage occur? c.What happens to the price when there is a shortage? d.When does a surplus occur? e.What happens to the price when there is a surplus? f. If we start from an equilibrium situation in the market, indicate what happens to the equilibrium price and quantity if the consumer's income increases and the good is normal. You must illustrate it graphically. You can use reference http://www.whitenova.com/thinkEconomics/supply.html
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